In 2014 these returns accounted for $642.6bn that retailers are losing worldwide, according to research from IHL Group and OrderDynamics. And the most frustrating part? About $453.4bn of those returns can simply be solved with proper technology in place.

The largest factor leading to unnecessary returns is poor quality or defective items, equaling $162bn in lost revenue -- $62.7bn in North America alone. We've all been there – we bought the perfect shirt only to have the shoulder seam bust open the first time we put it on. While sometimes the root of this problem is human error (aka ordering a smaller size thinking you'll lose 10 pounds in a week), the majority of the time this issue can be resolved proactively on the brand or retailer's end through having the appropriate quality control measures prior to the shirt arriving to inventory, thus ensuring their customers receive the highest quality items.

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